HOAs are an increasingly common fact of real estate.

HOA stands for “Home Owner's Association.” The term is often used as shorthand to describe the monthly/annual dues paid to said association (i.e. “The HOAs at this place are high!”) Many developments in and around Charlotte are HOA-governed.

What are HOAs, Exactly?

Great question! HOAs are usually formed when a developer builds a multi-family residential property. This kind of "property" can manifest in several ways: A condo building; a townhome complex; and even a planned neighborhood of single family homes. The Home Owner’s Association (specifically, the HOA bylaws, a lengthy set of provisions for the community) provides structure to the community, outlining rules and regulations as well

What's an HOA?

HOA stands for Home Owners Association and essentially, an HOA is a legal entity formed by the builder/developer of a residential neighborhood or complex. The purpose of an HOA usually includes several duties such as maintaining common areas, raising money for development repairs, and generally creating and enforcing rules which must be followed by everyone who lives within the community.

Pretty simple, right?

HOAs are, at their core, designed to be good for a development. They're not meant to make a profit or to keep people from living the way they want, but they're also there to protect the investment and lifestyle of the other members of your community. Keep that in mind.